Another multifamily tower to rise high above Austin’s Rainey Street

Add another proposed apartment high-rise to the glut of construction in the Rainey Street area.

Lee Development & Construction of Austin aims to build a roughly 33-story tower at 48 East Ave., the Austin American-Statesman repots, although design hasn’t been finalized.

No zoning change is required for the project, which will cost an estimated $60 million, the Statesman reports. Lee Development CEO Robert Lee told the newspaper he hopes to obtain building permits from the city and break ground by the end of the year.

Click to read more at Austin Business Journal.